Fifth Third Wealth Advisors LLC Raises Stock Position in Intuitive Surgical, Inc. $ISRG

Key Points

• Fifth Third Wealth Advisors LLC increased its stake in Intuitive Surgical, Inc. by 7.0% during the second quarter, holding 11,303 shares valued at approximately $6.14 million.
• Intuitive Surgical reported a 21.4% increase in revenue year-over-year, reaching $2.44 billion, and its earnings per share for the quarter exceeded analysts' expectations at $2.19.
• Institutional investors hold 83.64% of Intuitive Surgical's stock, with notable stakes growing from firms such as Norway Savings Bank and Sax Wealth Advisors LLC during the same quarter.

Fifth Third Wealth Advisors LLC grew its position in Intuitive Surgical, Inc. (NASDAQ:ISRG - Free Report) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,303 shares of the medical equipment provider's stock after purchasing an additional 740 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in Intuitive Surgical were worth $6,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norway Savings Bank grew its stake in Intuitive Surgical by 53.4% during the 2nd quarter. Norway Savings Bank now owns 2,613 shares of the medical equipment provider's stock worth $1,420,000 after buying an additional 910 shares during the last quarter. IronOak Wealth LLC. purchased a new stake in shares of Intuitive Surgical during the second quarter worth about $1,099,000. Trust Co. of Oklahoma purchased a new stake in shares of Intuitive Surgical during the second quarter worth about $363,000. Neville Rodie & Shaw Inc. grew its stake in shares of Intuitive Surgical by 11.9% during the second quarter. Neville Rodie & Shaw Inc. now owns 10,427 shares of the medical equipment provider's stock worth $5,666,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Sax Wealth Advisors LLC grew its position in Intuitive Surgical by 218.1% during the 2nd quarter. Sax Wealth Advisors LLC now owns 2,456 shares of the medical equipment provider's stock worth $1,334,000 after purchasing an additional 1,684 shares during the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.

Intuitive Surgical Stock Performance

NASDAQ:ISRG opened at $429.59 on Friday. Intuitive Surgical, Inc. has a one year low of $425.00 and a one year high of $616.00. The firm has a market cap of $154.00 billion, a price-to-earnings ratio of 59.91, a PEG ratio of 4.66 and a beta of 1.61. The firm's fifty day moving average is $458.68 and its two-hundred day moving average is $497.98.

Intuitive Surgical (NASDAQ:ISRG - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The medical equipment provider reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.26. Intuitive Surgical had a return on equity of 14.56% and a net margin of 28.51%.The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company's revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts predict that Intuitive Surgical, Inc. will post 6.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy L. Ladd sold 335 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $440.69, for a total transaction of $147,631.15. Following the sale, the director directly owned 739 shares of the company's stock, valued at approximately $325,669.91. This represents a 31.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gary S. Guthart sold 29,360 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $472.49, for a total transaction of $13,872,306.40. Following the sale, the insider directly owned 19,827 shares in the company, valued at $9,368,059.23. This trade represents a 59.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,224 shares of company stock worth $21,716,492. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

ISRG has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Intuitive Surgical from $547.00 to $585.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen raised shares of Intuitive Surgical from a "hold" rating to a "buy" rating in a report on Saturday, October 4th. BTIG Research reissued a "buy" rating and set a $571.00 price objective on shares of Intuitive Surgical in a report on Wednesday, October 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $615.00 price target on shares of Intuitive Surgical in a research note on Tuesday, August 19th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Intuitive Surgical in a research note on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $589.43.

Intuitive Surgical Profile

Intuitive Surgical, Inc develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

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